Property investment has been a lucrative venture for many years now, but it is often considered as a masculine field, with few female property investors in the public eye. However, more women than ever before have decided that property investment is a lucrative option for them and we look at why.
Owning property has been a right that women have fought for for years, and as recently as 1970, a woman could be refused a mortgage if she didn’t have a male guarantor. However, things have changed significantly for the better, with more women owning properties, and using property investment to increase their income than ever before. Recent data analysis showed that around 40% of landlords are women, far more than in other sectors, such as SME owners, where only 17% are female. Out of around 2.4 million buy to let property investors in the UK, a considerable 1.1 million of them are female. It also found that female landlords were happier to rent their properties to a wider range of tenants than men. As well as this, female landlords were more likely to rent to pensioners, single employed tenants and students. In fact, 35% of female landlords said they would rent to people receiving housing benefit, compared to only 25% of men. Being open to a more diverse range of tenants is a savvy way to increase income, and it is also helping to remedy the UK housing crisis which is still affecting so many.
Further research from property investment specialists RW Invest showed a marked increase in the number of women who were considering property investment. Their biggest rise in enquiries per demographic was from women aged 25-34, and there has been a 172% rise in the number of women searching for UK property. There has also been a dramatic rise in the visibility of female property professionals. There are more women property experts on the television with presenters such as Kirstie Allsop and Sarah Beany showing that women can succeed in property investment. Property investment has continued to provide lucrative returns, a steady income and huge growth potential – all factors that are increasingly appealing to women who still have less access to pension funds and stock market investing. Most women now strive to be financially independent and owning a property is a key part of this. If women do decide to move in with a partner, they often keep the second property as a source of extra income.
There are now over a million landladies in the UK, and women generate 43% of the total £32.3 billion of rental income that is earned by buy to let property investors in the UK. Representing almost half of the market, the rise of the female property investor looks set to continue. With women having to think more about supporting themselves in retirement too, investing in property is a great strategy for long term financial security.
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